IT/2 Choice is Launched

SimCorp has launched IT/2 Choice, the first corporate treasury management solution that is available with a free two months’ trial and without the charge of an initial license fee. IT/2 Choice provides the complete front to back treasury management solution of the well-established IT/2 system with all its leading edge functions and facilities, but is now available in a new business model that significantly reduces the cost of sale. SimCorp has passed this cost benefit on to its customers.

For the first time corporate treasurers can trial this comprehensive system for two months completely free of charge, simply by ordering their desired IT/2 Choice modules from www.simcorp.com. The only conditions for a free trial are that the treasurer signs an agreement and one or two staff attend a 2 day training course, which is free of charge.

Following a successful trial period, a corporate treasurer can choose to keep the system and fully implement it, which would take just a few weeks. This will involve an implementation and maintenance fee, as usual, but no initial license fee. All prices are fixed according to the number of modules purchased, making costs completely clear and transparent.

IT/2 Choice is the first full scale corporate treasury management system to be offered on this basis, changing the market’s traditional distribution and pricing model. It provides the commercial flexibility of an ASP combined with the functional, technical and integration flexibility of an installed solution. It removes many of the barriers that have traditionally prevented spreadsheet users from committing to a much desired treasury system. Moreover because customers can try the product free of charge, there is no financial risk and the customer can be sure that it has the right product for their needs.

"This demonstrates the confidence we have in our system," says Patrick Coleman, director of sales and marketing for SimCorp IT/2, "Like everyone else, we have traditionally gone through a long sales process, which is costly for both parties and the purchaser gets only a demonstration of the system. We are now so sure that treasurers will be convinced by the immediate benefits once they have tried IT/2 Choice that they will want to have it fully implemented. It’s a complete win-win situation."

SimCorp has introduced this new business model in response to feedback from corporate treasurers. It found that a number of treasurers needed a single treasury management solution to replace numerous small systems and spreadsheets, but did not want or had not budgeted for a high, initial charge for a license fee nor did they want a lengthy and costly selection and implementation process. The option of using an ASP was also unattractive due to concerns over security, the lack of technical and functional flexibility and the difficulty in linking with other systems within their organisation.

Streamlining the traditionally expensive sales process and allowing the treasurer to experience the benefits of IT/2 Choice for themselves has enabled SimCorp to remove the cost of the initial license fee. The system is already designed to be easy to implement and intuitive to use. Should a treasurer wish to purchase the system through the traditional sales model, with requests for proposal (RFP), presentations and demonstrations, a separate charge would be made for this process.

All of the modules within IT/2 Choice work together in any combination. At the end of the trial period, treasurers can choose which modules to have installed. Further modules can be added later, when required. Treasurers can buy a standardised implementation, training and maintenance package, which will be charged for on the basis of the number of modules taken. SimCorp also offers fully customised professional services, if required.

The announcement of this new initiative follows the release of version 5.0 of IT/2, which includes major enhancements to the system’s look, feel and usability as well as its internet facilities. SimCorp has invested significantly in the development of the product over the past three years and it is now considered to be market leading in terms of features and functionality.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development